(RTTNews) - While reporting financial results for the second quarter on Friday, Wendy's Co. (WEN) said it is withdrawing its 2026 financial outlook.
The company noted that its new leadership is taking the opportunity to fully assess the business opportunities and formulate a comprehensive turnaround plan, including the optimal deployment of capital.
The company also announced a reduction to its dividend to create additional flexibility to invest in initiatives in support of its turnaround. It declared a quarterly cash dividend of $0.07 per share, payable on September 15, 2026, to shareholders of record as of September 1, 2026.
In Friday's pre-market trading, WEN is trading on the Nasdaq at $7.18, down $0.21 or 2.84 percent.
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